Vonage Reports Narrower Loss

Vonage reported a narrower quarterly loss as churn fell modestly and average monthly revenue per line rose. The company posted second-quarter loss of $6.9 million, or 4 cents a share, compared with loss of $23.2 million, or 15 cents a share, a year ago.

Aug 7 (Reuters) - Internet-based phone company Vonage Holdings Corp reported a narrower quarterly loss as churn fell modestly and average monthly revenue per line rose. The company posted second-quarter loss of $6.9 million, or 4 cents a share, compared with loss of $23.2 million, or 15 cents a share, a year ago.

Revenue rose 11 percent to $227.5 million. Analysts were expecting the company to post a loss of 6 cents a share on revenue of $227.3 million.

The company said its churn ratea measure of customer attritionwas down sequentially to 3 percent from 3.3 percent.

Average monthly revenue per line rose to $29.04 from $28.38, a year ago, the company said in a statement.

Vonage said it added 2,000 net subscriber lines and finished the quarter with more than 2.6 million lines in service. Shares of the Holmdel New Jersey-based company closed at $1.33 Wednesday on the New York Stock Exchange. (Reporting by Sayantani Ghosh in Bangalore; Editing by Jarshad Kakkrakandy)